(A) Any initial franchise granted pursuant to this chapter may be granted for a period not to exceed 15 years and extensions and renewals hereof shall be in accordance with federal, state and local law including the provisions of the Cable Communications Policy Act of 1984.
(B) The town may terminate any franchise and all rights under this chapter at any time upon the determination that the grantee has:
(1) Breached any material terms or conditions of this chapter or the franchise, whether by act or omission;
(2) Made an assignment for the benefit of creditors, been adjudicated, bankrupt or insolvent, or filed a petition under the bankruptcy laws of the United States; or
(3) Failed to provide services to the citizens of the town under the terms of the franchise granted, recognizing the fact that this is a non-exclusive franchise with no mandatory obligations to serve any particular part of the town or the entire territory.
(C) The determination to terminate shall be made after the town has given the grantee 60-days’ advance written notice that it is considering the same and a subsequent 60-day period to cure the breach set forth in the written notice. The town may call a public hearing on the question of termination of the franchise and call witnesses and present evidence at the public hearing. At the public hearing, the grantee shall be entitled to call witnesses, present evidence and cross-examine witnesses called by the town. The town and the grantee shall bear their own legal costs in connection with any proceeding.
(1991 Code, Title VIII, § 5K)